MacLennan targets the Boadroom, the Treasury, and the general public in his inaugural address
In his inaugural address as IPA President at the 2007 IPA Members’ lunch (25th April), Moray MacLennan, Chairman Europe M&C Saatchi, said the focus of his two-year term would be outward facing; to promote the value of advertising in the Boardroom so that the ad industry establishes itself as central to the success of brands, companies, and the UK economy. His target audience will be the Chairmen, CEOs and Finance Directors of UK plc and also those who directly influence them: equity analysts, pension fund managers and financial journalists.
His message to the Boardroom is:
- IPA member agencies are as good, if not better at advertising than anyone else in the world. Their members are better trained, more qualified and more professional than anyone else. When it comes to monitoring and measurement their competition, the IPA Effectiveness Awards, is the most rigorous.
- Advertising’s concern is exclusively with intangible assets (now estimated to account for two thirds of intangible assets) and organic growth – and is therefore fundamental to the value chain.
- IPA member agencies are best placed to help companies understand their brands and grow their businesses.
“The majority of companies required to give greater transparency to acquired intangible assets under international accounting standards have chosen to hold back. This failure to get to grips with managing intangible value creation is a root cause of why advertising’s contribution is so poorly understood in the Boardroom. And is the reason why there is significant resistance to rewarding agencies related to the value they create.”
He also called for the industry to reposition itself at the creative end of commerce … “the engine room of value creation.” “We must show how creativity is inextricably linked to business success.”
The Treasury and General Public
His other target audiences were the Treasury and the general public.
He said that, in addition to the DCMS and the DTI, the advertising industry must communicate more effectively with the Treasury, so that it understands its contribution to the UK’s creative industries and so to the global competitive market in which the UK operates. “The Treasury is at the heart of Government, and we are at the heart of their prime concern – the UK’s competitive position in the world economy…. Advertising can be calculated to add value to the UK economy, over and above the investment itself, of some £160 billion a year.”
In targeting the general public he said his objective was not to lead the case for promoting the freedom of commercial speech, or to be loved, but that advertising’s contribution to their lives was understood and valued; lower prices, better products, better choice, more information and power. “The IPA’s role is not to lead the case for promoting the freedom of commercial speech which is the Advertising Association’s job … but to demonstrate the power of advertising as a force for good.”
View Moray Maclennan's Inaugural Speech
Last updated 19/02/2008